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💰 Perpetual futures trading volume surges as Bitcoin spot trading lags
Bitcoin derivatives market has been a whirlwind of activity. Trading volumes for perpetual futures took a nosedive from $53.156 billion on June 12 to just $10.910 billion by June 15, only to rebound drastically to $51.239 billion by June 18. Interestingly, these fluctuations did not exactly mirror Bitcoin’s price movements, exposing a complex interplay of market factors.
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📣 Hashdex proposes new ETF that would own both spot Ethereum and Bitcoin
Crypto asset management firm Hashdex plans to launch an exchange-traded fund that directly owns spot bitcoin and ether. Nasdaq posted the proposal via Form 19b-4 on Tuesday for the Hashdex Nasdaq Crypto Index US ETF, which ETF experts say was not necessarily a surprising move. Hashdex's move comes after the SEC approved spot Bitcoin ETFs earlier this year and last month approved 19b-4 forms for a slew of spot Ethereum ETFs.
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🇻🇪 Venezuela Likely to Keep Using Crypto to Bypass New Set of US Sanctions
According to Venezuelan dissidents and cryptocurrency analysts, the government of Venezuela is likely to keep using crypto to bypass the returning sanctions on oil and gold activities. Even when Nicolas Maduro’s administration seems to have been affected by corruption cases involving crypto, watchers report that these tools will keep diverting funds from regular channels.
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🏦 Coinbase Flags Crypto Talent Drain from US Amidst Regulatory Concerns
The report shows a 14-point decline in developer share over 5 years, though top companies are increasingly adopting on-chain solutions. In a report released earlier this week, Coinbase expressed concerns over the declining crypto talent in the US amidst the ongoing increase in general corporate interest. The largest US exchange highlighted the need for regulatory clarity around the crypto realm to keep the talent within the country.
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🟠 Binance 'relieved' as Nigeria drops tax charges against its executives
Crypto exchange Binance said it was “relieved” following news that Nigerian authorities had dropped tax charges against its executives Tigran Gambaryan and Nadeem Anjarwalla, with Binance now the sole defendant. Nigeria’s Federal Inland Revenue Service (FIRS) served and filed amended charges today, a Binance spokesperson confirmed, resulting in the tax charges being dropped. The pair still face money laundering charges in the country, alongside Binance.
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🪙 Gensler confirms spot Ethereum ETFs will be approved ‘this summer’ during Senate hearing
SEC Chair Gary Gensler said the regulator expects to approve the spot Ethereum ETF applications’ S-1 registration forms “sometime over the course of this summer,” which would be the final step before the funds can launch in the US. The watchdog recently approved the related 19b-4 applications filed by stock exchanges in May. However, the approval of S-1 registration forms from individual issuers is still pending.
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💰 Bitcoin miners rise 10% after Trump promises to back US miners
Bitcoin (BTC) mining stocks soared double digits on Wednesday a day after United States presidential candidate Donald Trump promised to bolster mining operations in the country. Trump said he wants “all the remaining Bitcoin to be MADE IN THE USA!!!” adding it would help the country be “ENERGY DOMINANT” in a June 12 post, which came shortly after a meeting he hosted with some of the industry’s top executives.
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🪙 ProShares files S-1 for spot Ethereum ETF, expands on BNY Mellon and Coinbase roles
ProShares filed an S-1 registration statement for its spot Ethereum ETF on June 11, confirming and expanding on the roles of various fund participants. According to the filing, Coinbase Credit will serve as the company’s trade credit lender, allowing it to borrow Ethereum (ETH) and cash for certain transactions that exceed its trading balance. Bank of New York Mellon will serve as transfer agent, processing purchase and redemption orders and maintaining fund ownership records.
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📊 Surge in Digital Asset Investments Following SEC ETF Approvals, Coinshares Reports
Digital asset investment products have witnessed significant inflows totaling $2 billion, marking a strong five-week streak that accumulates to $4.3 billion. As reported by Coinshares, this surge aligns with increased trading volumes and shifting monetary policy expectations.
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🇺🇸 DOJ Charges Epoch Times Exec with Laundering $67M Using Cryptocurrency
The US Department of Justice (DoJ) indicted Bill Guan, the chief financial officer of Epoch Times, on Tuesday. The DOJ alleges that Guan was involved in an international scheme to launder around $67 million of illicit funds using cryptocurrency. From 2020 to May 2024, Bill Guan engaged in a large-scale international money laundering scheme, collaborating with others to launder approximately $67 million of illegal funds into the bank accounts of his media company and its related entities, according to the official press release by DOJ.
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JUST IN: 🇺🇸 Donald Trump calls himself a "crypto president" at San Francisco tech fundraiser.
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💰 Bitcoin ETFs see $1.4 billion in 2 days amid 17-day inflow streak, tying record
According to Farside data, Bitcoin (BTC) exchange-traded funds (ETFs) experienced substantial inflows on June 5, with a notable accumulation of $488.1 million. This marks 17 consecutive trading days of inflows, tying the record for the longest streak. Over the past two days alone, inflows have surged to an impressive $1.4 billion. Farside data shows that Fidelity FBTC led the inflows with $220.6 million, bringing its total net inflow to $9.6 billion.
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🇺🇸 Short seller hits Riot Platforms, says US bitcoin miners are 'competing in a global race they cannot win'
“Bitcoin mining is easily among the worst business models for a public company we have ever encountered,” Kerrisdale Capital analysts wrote in a 17-page report this morning. “[U]npredictable revenue, capital intensive, extremely competitive, a pure commodity product, and lately drawing intense regulatory scrutiny even in crypto-friendly places like Texas where Riot has 100% of its bitcoin production.” Riot Platforms' stock is falling in Wednesday’s session after a short seller released a new report on the company and the entire U.S. bitcoin mining industry.
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🟠 Binance to restrict 'unauthorized' stablecoins in EU starting June 30, urges users to switch to regulated tokens
Binance, the world's largest cryptocurrency exchange by trading volume, announced it will soon restrict availability in the European Union to stablecoins that are considered "unregulated" by the EU. In a statement, Binance said the rules for stablecoins outlined in the EU's Markets in Crypto-Assets Regulation (MiCA) will come into effect at the end of June.
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💰 FTX offloads remaining Anthropic shares as bankruptcy cost surpasses $700 million
FTX sold the remaining 15 million shares for about $30 each, netting over $450 million in proceeds. That brings the total haul from FTX's original $500 million investment in the company to about $1.3 billion, for a profit of around $800 million. The price per share for this second sale was the same for the first sale back in March.
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🪙 Bitwise Investments Updates Ethereum ETF Filing, Reveals $2.5M Seed Interest
Bitwise Investments, a prominent cryptocurrency asset management firm that offers diverse investment products and services focused on digital assets, has updated its ether-based exchange-traded fund (ETF) S-1 filing with the U.S. Securities and Exchange Commission (SEC), revealing $2.5 million in seed investment interest.
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💰 Telecom Giant and T-Mobile Parent Deutsche Telekom Plans to Mine Bitcoin
Bitcoin mining might soon gain a new player: telecommunication giant Deutsche Telekom, the parent company of one of the largest U.S. telcos, T-Mobile. "We will engage in digital monetary photosynthesis soon," Dirk Röder, Head of web3 infrastructure and solutions of T-Mobile's Telekom MMS, said during the BTC Prague conference last week. When asked by the conference host if T-Mobile is mining bitcoin, he answered, "We will."
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❄️ TON blockchain’s TVL surges above $600 million to set record high
The Open Network, or TON blockchain, soared to $609.78 million in total value locked on Monday, according to DefiLlama data. This comes just three weeks after the network’s TVL recorded $300 million. Many of the top 10 protocols on TON, as detailed by DefiLlama, made significant growth in TVL over the past seven days. The TVL on DeDust, a TON-based decentralized exchange liquidity pool, surged by 53% in the past week, reaching nearly $300 million.
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⚫️ Trezor launches new touchscreen hardware wallet with custom expert setup
Trezor has launched the Trezor Safe 5, a new flagship device with upgraded security features and a haptic color touchscreen, and the Trezor Expert, a personalized onboarding service for new users. The Trezor Safe 5 introduces enhanced security and usability for managing digital assets. This new device features a color touchscreen with the Trezor Touch haptic engine, providing a visually engaging interface.
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JUST IN: 🇺🇸 Donald Trump says he will "end Joe Biden's war on crypto, and ensure that the future of crypto and the future of Bitcoin will be made in America."
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💰 Terraform Labs to dissolve, CEO asks community to take over following $4.47 billion SEC settlement
Chris Amani, CEO of Terraform Labs, the developer of Terra blockchain, asked the community to take the reins as the firm plans to dissolve its operations. The firm, according to Amani, plans to sell its projects in the Terra ecosystem including Pulsar Finance, Station Wallet and Enterprise DAO. This follows Terraform's massive $4.47 billion settlement with the U.S. Securities and Exchange Commission related to the UST algorithmic stablecoin, which dramatically collapsed in 2022.
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🦊 MetaMask launches pooled staking for Ethereum, excluding US and UK users
MetaMask developer Consensys has launched pooled staking for its popular web3 wallet, enabling users to stake any amount of ether to contribute to Ethereum network security and earn validator rewards. Before the launch, only users with at least 32 ETH (around $113,000), the minimum required by the Ethereum protocol, could stake natively in validators operated by the firm. MetaMask users can unstake their ether at any time, but the process is subject to waiting times that may vary depending on the current Ethereum validator exit queue.
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💰 Polygon community treasury announces grants program for builders, initially distributing 35 million MATIC
A Polygon community treasury has announced a long-term plan to spur development on the blockchain that involves unlocking 1 billion tokens over a decade. "After community consensus, the Community Treasury has been created, with 1 billion POL unlocked over 10 years, with [approximately] 100 million POL per year, all for builders," the treasury said in an announcement. POL is set to become Polygon's native token, replacing MATIC eventually.
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🪙 Spot Ethereum ETFs could capture up to 20% of Bitcoin ETF flows, analyst predicts
Spot Ethereum exchange-traded funds could capture as much as a fifth of the investment flows currently directed towards spot bitcoin ETFs, an analyst said. "Forecasts show that spot Ethereum ETFs could capture between 10-20% of the flows that have been going into spot bitcoin ETFs," Bitfinex head of derivatives Jag Kooner told The Block. However, Kooner said he believes a lot depends on clarification in the future regarding staking being allowed or denied by the U.S. Securities and Exchange Commission for spot Ethereum ETFs.
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🔵 Arbitrum DAO votes to approve $215 million gaming ecosystem fund proposed by Arbitrum Foundation
Arbitrum Foundation, the organization that supports the Ethereum rollup-based Layer 2 network Arbitrum, will get its wish to distribute hundreds of millions of dollars to support gaming projects on the network over the next three years. Organizations that significantly supported the proposal include L2Beat, Wintermute, and gaming-focused Treasure DAO, while Blockworks Research and Camelot DAO numbered among those who voted against.
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🟠 Binance Confirms Mastercard and Visa Support for Crypto Purchases but No Binance Credit Card Issued
Cryptocurrency exchange Binance posted on social media platform X Thursday that users can purchase cryptocurrency using Mastercard, Visa, or SEPA for bank transfers. The announcement led to confusion among some users regarding the reintroduction of Binance-branded credit cards. Binance Customer Support clarified that the current facilities allow the use of existing payment methods to buy crypto and do not indicate the issuance of a new Binance credit card.
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🟠 Binance moves to dismiss most of UK Bitcoin SV case
Binance moved to dismiss most of the claims in a UK case regarding its delisting of Bitcoin SV (BSV), Reuters reported on June 5. The case also names the companies behind Kraken, Shapeshift, and Bittylicious as defendants. BitMEX Research reported that six companies related to the four exchanges appeared with legal teams before the tribunal today. Binance asked the UK Competition Appeal Tribunal during a hearing to dismiss the part of the case claiming that BSV had the potential to become a major crypto.
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🇺🇸 US Should Join UK in ‘Blockchain Sandbox’ Free of Regulatory Meddling, SEC Commissioner Says
Hester Peirce, a leading member of the Securities and Exchange Commission (SEC), has signaled her support to a proposed cross-border “digital securities sandbox” between the U.S. and the U.K. SEC Commissioner Peirce praised the Bank of England and the Financial Conduct Authority (FCA) of the U.K. for proposing a local “digital securities sandbox” (DSS), which would let participating companies to experiment with blockchain technology “in the issuance, trading, and settlement of securities.”.
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⚪️ Worldcoin Officially Launches in Colombia
Worldcoin, the iris-scanning biometric proof-of-personhood project, announced on Thursday the launch of its operations in Colombia. Via social media, the project reported that eye-scanning operations were already available in Bogota and Medellin, for World ID users. Currently, only ten locations with orbs (iris scanning machines) are available, six in Bogota and four in Medellin.
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